CALGARY Nov 5 (Reuters) - Enbridge Inc, Canada's
largest pipeline company, said on Thursday it was moving into
offshore wind development as part of a broader shift in the
coming decades away from carbon-intensive energy.

Enbridge President and Chief Executive Officer Al Monaco
made the comments after the company said a delay in starting up
a pipeline to transport crude from Ontario to Quebec will hurt
its adjusted earnings for the year.

The Calgary-based company's stock was down about 2 percent
in early morning trading.

Enbridge, which has faced opposition to pipeline projects
from environmental groups seeking to block fossil fuel
expansion, said the new investment of C$750 million ($570.04
million) would give it a 24.9 per cent interest in the Rampion
Offshore Wind Project in the UK, under construction by a
subsidiary of E.ON SE.

After investing over C$4 billion in renewable power
generation projects over the past decade, Monaco said Enbridge
thought it was prudent to work with an established partner for
its first investment in offshore wind.

Enbridge's earnings in the coming decades would continue to
be driven by its oil and gas transportation, he added.

"We'd all agree that if you look to the future, we're going
to see a lower carbon intensity in our economy," Monaco said.
"The other part of the equation though, for us, fundamentally,
is these investments, need to generate good risk-adjusted
returns."
Continued...